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CANADA Prime Minister Justin Trudeau
Justin Trudeau

FRANCE President Emmanuel Macron

GERMANY Chancellor Angela Merkel

ITALY (2017 chairman) Prime Minister Paolo Gentiloni
Paolo Gentiloni

JAPAN Prime Minister Shinzō Abe
Shinzō Abe

UNITED KINGDOM Prime Minister Theresa May
Theresa May

UNITED STATES President Donald Trump
Donald Trump

EUROPEAN UNION Council President Donald Tusk Commission President Jean-Claude Juncker

Flags of G7 members as seen at University Avenue in Toronto
Toronto
.

The GROUP OF 7 (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom
United Kingdom
and the United States. The European Union is also represented within the G7. These countries are the seven major advanced economies as reported by the International Monetary Fund : the G7 countries represent more than 64% of the net global wealth ($263 trillion). A very high net national wealth and a very high Human Development Index
Human Development Index
are the main requirements to be a member of this group. The G7 countries also represent 46% of the global GDP evaluated at market exchange rates and 32% of the global purchasing power parity GDP.

The 43rd G7 summit was held in Taormina
Taormina
(ME ), Italy
Italy
in May 2017.

CONTENTS

* 1 History * 2 Function * 3 Work

* 4 List of summits

* 4.1 Leaders

* 5 Heads of State and Government and EU representatives, as of 2017

* 5.1 Member country data * 5.2 Member facts

* 6 Protests * 7 See also * 8 References * 9 External links

HISTORY

The G7 originates with the Group of Six . It was founded ad hoc in 1975, consisting of finance ministers and central bank governors from France, West Germany
Germany
, Italy, Japan, the United Kingdom
United Kingdom
and the United States, when Giscard d\'Estaing invited them for an "informal gathering at the chateau of Rambouillet
Rambouillet
, near Paris in a relaxed and private setting". The intent was "to discuss current world issues (dominated at the time by the oil crisis) in a frank and informal manner". The G6 followed an unofficial gathering starting in 1974 of senior financial officials from the United States, the United Kingdom, West Germany, Japan
Japan
and France. They were called the "Library group" or the "Group of Five" because they met informally in the White House Library in Washington, DC. :34 (this is not to be confused with the current, but completely different " Group of Five ", a group of the five top nations with emerging economies formed in 2005).

Canada
Canada
became the seventh member to begin attending the summits in 1976, after which the name 'Group 7' or G7 _Summit_ was used.

Following 1994\'s G7 summit in Naples
Naples
, Russian officials held separate meetings with leaders of the G7 after the group's summits. This informal arrangement was dubbed the Political 8 (P8) – or, colloquially, the G7+1. At the invitation of Prime Minister of the United Kingdom
United Kingdom
Tony Blair
Tony Blair
and President of the United States
United States
Bill Clinton , Russian President Boris Yeltsin was invited first as a guest observer, later as a full participant. It was seen as a way to encourage Yeltsin's capitalist reforms. After the 1997 meeting Russia was formally invited to the next meeting and formally joined the group in 1998, resulting in a new governmental political forum, the Group of Eight , or G8 . However Russia
Russia
was ejected from the G8 political forum in 2014 following the Russian annexation of Crimea .

FUNCTION

The organization was founded to facilitate shared macroeconomic initiatives by its members in response to the collapse of the exchange rate 1971, during the time of the Nixon Shock
Nixon Shock
, the 1970s energy crisis and the ensuing recession. Its goal was fine tuning of short term economic policies among participant countries to monitor developments in the world economy and assess economic policies.

WORK

2nd 7th 9th 14th 16th 21st 23rd 28th 30th 36th 38th Host venues of G7 summits in North America 1st 3rd , 10th , 17th 4th , 11th 6th , 13th 8th 15th 18th 20th 22nd 24th 25th 27th 29th 31st 32nd 33rd 35th 37th 39th 40th 41st 43rd ' Host venues of G7 summits in Europe 5th , 12th , 19th 26th 34th 42nd Host venues of G7 summits in Japan
Japan

Since 1975, the group meets annually on summit site to discuss economic policies; since 1987, the G7 finance ministers have met at least semi-annually, up to 4 times a year at stand-alone meetings.

In 1996, the G7 launched an initiative for the 42 heavily indebted poor countries (HIPC).

In 1999, the G7 decided to get more directly involved in "managing the international monetary system" through the Financial Stability Forum , formed earlier in 1999 and the G-20, established following the summit, to "promote dialogue between major industrial and emerging market countries". The G7 also announced their plan to cancel 90% of bilateral, and multilateral debt for the HIPC, totaling $100 billion.

In 2005 the G7 announced, debt reductions of "up to 100%" to be negotiated on a "case by case" basis.

In 2008 the G7 met twice in Washington, D.C. to discuss the global financial crisis of 2007-2010 and in February 2009 in Rome. The group of finance ministers pledged to take "all necessary steps" to stem the crisis.

On 2 March 2014, the G7 condemned the " Russian Federation
Russian Federation
's violation of the sovereignty and territorial integrity of Ukraine." The G7 stated "that the International Monetary Fund (IMF) remains the institution best prepared to help Ukraine address its immediate economic challenges through policy advice and financing, conditioned on needed reforms", and that the G7 was "committed to mobilize rapid technical assistance to support Ukraine in addressing its macroeconomic, regulatory and anti-corruption challenges."

On 24 March 2014, the G7 convened an emergency meeting in response to the Russian Federation's annexation of Crimea at the Dutch Catshuis , located in The Hague because all G7 leaders were already present to attend the 2014 Nuclear Security Summit . This was the first G7 meeting neither taking place in a member nation nor having the host leader participating in the meeting.

On 4 June 2014 leaders at the G7 summit in Brussels, condemned Moscow for its "continuing violation" of Ukraine's sovereignty, in their joint statement and stated they were prepared to impose further sanctions on Russia. This meeting was the first since Russia
Russia
was expelled from the group G8 following its annexation of Crimea in March.

The annual G7 leaders summit is attended by the heads of government. The member country holding the G7 presidency is responsible for organizing and hosting the year's summit.

The serial annual summits can be parsed chronologically in arguably distinct ways, including as the sequence of host countries for the summits has recurred over time, series, etc.

LIST OF SUMMITS

DATE HOST HOST LEADER LOCATION HELD WEBSITE NOTES

1st 15–17 November 1975 France Valéry Giscard d\'Estaing Rambouillet
Rambouillet
(Castle of Rambouillet
Rambouillet
)

G6 Summit

2nd 27–28 June 1976 United States Gerald R. Ford Dorado , Puerto Rico

Also called " Rambouillet
Rambouillet
II". Canada
Canada
joined the group, forming the G7

3rd 7–8 May 1977 United Kingdom James Callaghan
James Callaghan
London

President of the European Commission was invited to join the annual G-7 summits

4th 16–17 July 1978 West Germany Helmut Schmidt Bonn
Bonn
, North Rhine-Westphalia

5th 28–29 June 1979 Japan Masayoshi Ōhira Tokyo

6th 22–23 June 1980 Italy Francesco Cossiga Venice
Venice

Prime Minister Ōhira died in office on 12 June; Foreign Minister Saburō Ōkita led the delegation which represented Japan
Japan
in his place.

7th 20–21 July 1981 Canada Pierre E. Trudeau Montebello , Québec

8th 4–6 June 1982 France François Mitterrand Versailles

9th 28–30 May 1983 United States Ronald Reagan
Ronald Reagan
Williamsburg , Virginia

10th 7–9 June 1984 United Kingdom Margaret Thatcher
Margaret Thatcher
London

11th 2–4 May 1985 West Germany Helmut Kohl
Helmut Kohl
Bonn
Bonn
, North Rhine-Westphalia

12th 4–6 May 1986 Japan Yasuhiro Nakasone Tokyo

13th 8–10 June 1987 Italy Amintore Fanfani Venice
Venice

14th 19–21 June 1988 Canada Brian Mulroney Toronto
Toronto
, Ontario

15th 14–16 July 1989 France François Mitterrand Paris

16th 9–11 July 1990 United States George H. W. Bush Houston
Houston

17th 15–17 July 1991 United Kingdom John Major London

18th 6–8 July 1992 Germany Helmut Kohl
Helmut Kohl
Munich
Munich
, Bavaria

19th 7–9 July 1993 Japan Kiichi Miyazawa
Kiichi Miyazawa
Tokyo

20th 8–10 July 1994 Italy Silvio Berlusconi
Silvio Berlusconi
Naples
Naples

21st 15–17 June 1995 Canada Jean Chrétien Halifax , Nova Scotia

22nd 27–29 June 1996 France Jacques Chirac Lyon
Lyon

International organizations ' debut to G7 Summits periodically. The invited ones here were: United Nations, World Bank , International Monetary Fund and the World Trade Organization .

23rd 20–22 June 1997 United States Bill Clinton
Bill Clinton
Denver
Denver

Russia
Russia
joins the group, forming G8

24th 15–17 May 1998 United Kingdom Tony Blair
Tony Blair
Birmingham
Birmingham

25th 18–20 June 1999 Germany Gerhard Schröder Cologne
Cologne
, North Rhine-Westphalia

First Summit of the G-20 major economies at Berlin
Berlin

26th 21–23 July 2000 Japan Yoshiro Mori
Yoshiro Mori
Nago , Okinawa

Formation of the G8+5 starts, when South Africa
South Africa
was invited. Until the 38th G8 summit in 2012, it has been invited to the Summit annually without interruption. Also, with permission from a G8 leader, other nations were invited to the Summit on a periodical basis for the first time. Nigeria, Algeria and Senegal accepted their invitations here. The World Health Organization was also invited for the first time.

27th 20–22 July 2001 Italy Silvio Berlusconi
Silvio Berlusconi
Genoa
Genoa

Leaders from Bangladesh, Mali and El Salvador accepted their invitations here. Demonstrator Carlo Giuliani is shot and killed by police during a violent demonstration. One of the largest and most violent anti-globalization movement protests occurred for the 27th G8 summit . Following those events and the September 11 attacks
September 11 attacks
two months later in 2001, the G8 have met at more remote locations.

28th 26–27 June 2002 Canada Jean Chrétien Kananaskis , Alberta

Russia
Russia
gains permission to officially host a G8 Summit .

29th 2–3 June 2003 France Jacques Chirac Évian-les-Bains
Évian-les-Bains

The G8+5 was _unofficially_ made, when China, India, Brazil, and Mexico
Mexico
were invited to this Summit for the first time. South Africa has joined the G8 Summit, since 2000, until the 2012 edition. Other first-time nations that were invited by the French president included: Egypt, Morocco, Saudi Arabia, Malaysia and Switzerland.

30th 8–10 June 2004 United States George W. Bush Sea Island, Georgia

A record number of leaders from 12 different nations accepted their invitations here. Amongst a couple of veteran nations, the others were: Ghana, Afghanistan, Bahrain, Iraq, Jordan, Turkey, Yemen and Uganda. Also, the state funeral of former president Ronald Reagan took place in Washington during the summit.

31st 6–8 July 2005 United Kingdom Tony Blair
Tony Blair
Gleneagles

The G8+5 was officially formed. On the second day of the meeting, suicide bombers killed 52 people on the London
London
Underground and a bus. Nations that were invited for the first time were Ethiopia and Tanzania. The African Union
African Union
and the International Energy Agency
International Energy Agency
made their debut here. During the 31st G8 summit in United Kingdom, 225,000 people took to the streets of Edinburgh as part of the Make Poverty History campaign calling for Trade Justice, Debt Relief and Better Aid. Numerous other demonstrations also took place challenging the legitimacy of the G8.

32nd 15–17 July 2006 Russia Vladimir Putin
Vladimir Putin
Strelna , St. Petersburg

First G8 Summit on Russian soil. Also, the International Atomic Energy Agency and UNESCO
UNESCO
made their debut here.

33rd 6–8 June 2007 Germany Angela Merkel Heiligendamm
Heiligendamm
, Mecklenburg-Vorpommern

Seven different international organizations accepted their invitations to this Summit. The Organisation for Economic Co-operation and Development and the Commonwealth of Independent States made their debut here.

34th 7–9 July 2008 Japan Yasuo Fukuda Toyako (Lake Toya) , Hokkaido

Nations that accepted their G8 Summit invitations for the first time are: Australia, Indonesia and South Korea.

35th 8–10 July 2009 Italy Silvio Berlusconi
Silvio Berlusconi
La Maddalena (cancelled) L\'Aquila , Abruzzo (re-located) This G8 Summit was originally planned to be in La Maddalena ( Sardinia
Sardinia
), but was moved to L'Aquila as a way of showing Prime Minister Berlusconi's desire to help the region after the 2009 L\'Aquila earthquake . Nations that accepted their invitations for the first time were: Angola, Denmark, Netherlands and Spain. A record of TEN (10) international organizations were represented in this G8 Summit. For the first time, the Food and Agriculture Organization
Food and Agriculture Organization
, the International Fund for Agricultural Development , the World Food Programme , and the International Labour Organization accepted their invitations.

36th 25–26 June 2010 Canada Stephen Harper
Stephen Harper
Huntsville, Ontario

Malawi, Colombia, Haiti, and Jamaica accepted their invitations for the first time.

37th 26–27 May 2011 France Nicolas Sarkozy Deauville
Deauville
, Basse-Normandie

Guinea, Niger, Côte d'Ivoire and Tunisia accepted their invitations for the first time. Also, the League of Arab States made its debut to the meeting.

38th 18–19 May 2012 United States Barack Obama
Barack Obama
Chicago (cancelled) Camp David
Camp David
(re-located) The summit was originally planned for Chicago, along with the NATO summit , but it was announced officially on 5 March 2012, that the G8 summit will be held at the more private location of Camp David
Camp David
and at one day earlier than previously scheduled. Also, this is the second G8 summit, in which one of the core leaders (Vladimir Putin) declined to participate. This G8 summit concentrated on the core leaders only; no non-G8 leaders or international organizations were invited.

39th 17–18 June 2013 United Kingdom David Cameron
David Cameron
Lough Erne , County Fermanagh

As in 2012, only the core members of the G8 attended this meeting. The four main topics that were discussed here were trade, government transparency, tackling tax evasion, and the ongoing Syrian crisis.

40th 4–5 June 2014 Russia
Russia
(cancelled) European Union

(Belgium) Vladimir Putin
Vladimir Putin
(cancelled) Herman Van Rompuy
Herman Van Rompuy
(new) and José Manuel Barroso Sochi
Sochi
(cancelled) Brussels
Brussels
(re-located) G7 summit as an alternative meeting without Russia
Russia
in 2014 due to association with Crimean crisis . G8 summit did not take place in Sochi, Russia. G7 summit relocated to Brussels, Belgium.

41st 7–8 June 2015 Germany Angela Merkel Schloss Elmau , Bavaria

Summit dedicated to focus on the global economy as well as on key issues regarding foreign, security and development policy. Global Apollo Programme was also on the agenda.

42nd 26–27 May 2016 Japan Shinzō Abe
Shinzō Abe
Shima , Mie Prefecture

The G7 leaders aim to address challenges affecting the growth of the world economy , like slowdowns in emerging markets and drops in price of oil . The G7 also issued a warning on the United Kingdom
United Kingdom
that "a UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create and is a further serious risk to growth". Commitment to an EU– Japan
Japan
Free Trade Agreement

43rd 26–27 May 2017 Italy Paolo Gentiloni
Paolo Gentiloni
Taormina
Taormina
, Sicily

G7 leaders emphasized common endeavours: to end the Syrian crisis, to fulfill the UN mission in Libya and reducing the presence of ISIS, ISIL and Da'esh in Syria and Iraq. North Korea was urged to comply with UN resolutions, Russian responsibility was stressed for the Ukraine conflict. Supporting economic activity and ensuring price stability was demanded while inequalities in trade and gender were called to be challenged. It was agreed to help countries in creating conditions that address the drivers of migration: ending hunger, increasing competitiveness and advancing global health security.

44th TBD , 2018 Canada
Canada
Justin Trudeau
Justin Trudeau
La Malbaie , Québec

45th TBD , 2019 France
France
Emmanuel Macron TBD

46th TBD , 2020 United States
United States
Donald Trump
Donald Trump
TBD

47th TBD , 2021 United Kingdom Theresa May
Theresa May
TBD

LEADERS

MEMBER

HEAD OF GOVERNMENT

FINANCE MINISTER

CENTRAL BANK GOVERNOR

CANADA Prime Minister Justin Trudeau
Justin Trudeau
Minister of Finance Bill Morneau Stephen Poloz

FRANCE President Emmanuel Macron Minister of the Economy Bruno Le Maire François Villeroy de Galhau

Prime Minister Édouard Philippe

GERMANY Chancellor Angela Merkel Minister of Finance Wolfgang Schäuble Jens Weidmann

ITALY Prime Minister Paolo Gentiloni
Paolo Gentiloni
Minister of Economy and Finance Pier Carlo Padoan Ignazio Visco

JAPAN Prime Minister Shinzō Abe
Shinzō Abe
Minister of Finance Tarō Asō Haruhiko Kuroda

UNITED KINGDOM Prime Minister Theresa May
Theresa May
Chancellor of the Exchequer Philip Hammond
Philip Hammond
Mark Carney

UNITED STATES President Donald Trump
Donald Trump
Secretary of the Treasury Steven Mnuchin
Steven Mnuchin
Janet Yellen

EUROPEAN UNION Council President Donald Tusk Commissioner for Economic and Monetary Affairs and the Euro Jyrki Katainen
Jyrki Katainen
Mario Draghi

Commission President Jean-Claude Juncker

HEADS OF STATE AND GOVERNMENT AND EU REPRESENTATIVES, AS OF 2017

*

CANADA Justin Trudeau
Justin Trudeau
, Prime Minister *

FRANCE Emmanuel Macron , President

*

GERMANY Angela Merkel , Chancellor *

ITALY Paolo Gentiloni
Paolo Gentiloni
, Prime Minister *

JAPAN Shinzō Abe
Shinzō Abe
, Prime Minister *

UNITED KINGDOM Theresa May
Theresa May
, Prime Minister *

UNITED STATES Donald Trump
Donald Trump
, President *

EUROPEAN UNION Donald Tusk , President of the European Council *

EUROPEAN UNION Jean-Claude Juncker , President of the European Commission

MEMBER COUNTRY DATA

MEMBER TRADE MIL. USD (2014) NOM. GDP MIL. USD (2014) PPP GDP MIL. USD (2014) NOM. GDP PER CAPITA USD (2014) PPP GDP PER CAPITA USD (2014) HDI (2015) POPULATION (2014) PERMANENT MEMBERS OF UN SECURITY COUNCIL DAC OECD
OECD
ECONOMIC CLASSIFICATION ( IMF
IMF
)

Canada 947,200 1,785,387 1,595,975 50,304 44,967 0.913 35,467,000 N Y Y Advanced

France 1,212,300 2,833,687 2,591,170 44,332 40,538 0.888 63,951,000 Y Y Y Advanced

Germany 2,866,600 3,874,437 3,748,094 47,774 46,216 0.916 80,940,000 N Y Y Advanced

Italy 948,600 2,167,744 2,135,359 35,335 35,131 0.873 60,665 551 N Y Y Advanced

Japan 1,522,400 4,602,367 4,767,157 36,222 37,519 0.891 127,061,000 N Y Y Advanced

United Kingdom 1,189,400 2,950,039 2,569,218 45,729 39,826 0.907 64,511,000 Y Y Y Advanced

United States 3,944,000 17,348,075 17,348,075 54,370 54,370 0.915 318,523,000 Y Y Y Advanced

European Union 4,485,000 18,527,116 18,640,411 36,645 36,869 0.865 505,570,700 N/A Y N/A N/A

The G7 is composed of the wealthiest developed countries by national net wealth (See National wealth ). The People's Republic of China, according to its data, would be the third-largest (9.1% of the world net wealth) in the world, but is excluded because the IMF
IMF
and other main global institutions don't consider China
China
a developed country. As of 2014 Credit Suisse report the G7 (without the European Union) represents above 64% of the global net wealth . Including the EU the G7 represents over 70% of the global net wealth.

MEMBER FACTS

* 7 of the 7 top-ranked advanced economies with the current largest GDP and with the highest national wealth (United States, Japan, Germany, UK, France, Italy, Canada). * 7 of the 15 top-ranked countries with the highest net wealth per capita (United States, France, Japan, United Kingdom, Italy, Canada, Germany). * 7 of 10 top-ranked leading export countries . * 5 of 10 top-ranked countries with the largest gold reserves (United States, Germany, Italy, France, Japan). * 7 of 11 top-ranked economies (by nominal GDP ), according to latest (2012 data) International Monetary Fund's statistics. * 5 countries with a nominal GDP per capita above US$40,000 (United States, Canada, Germany, United Kingdom, France). * 4 countries with a sovereign wealth fund , administered by either a national or a state/provincial government (United States, France, Canada, Italy). * 7 of 30 top-ranked nations with large amounts of foreign-exchange reserves in their central banks . * 3 out of 9 countries having nuclear weapons (France, UK, United States), plus 2 countries that have nuclear weapon sharing programs (Germany, Italy). * 6 of the 9 largest nuclear energy producers (United States, France, Japan, Germany, Canada, UK), although Germany
Germany
announced in 2011 that it will close all of its nuclear power plants by 2022. Following the 2011 Tōhoku earthquake and tsunami , Japan
Japan
shut down all of its nuclear reactors. However, Japan
Japan
restarted several nuclear reactors, with the refueling of other reactors underway. * 7 of the 10 top donors to the UN budget for the 2016 annual fiscal year. * 4 countries with a HDI index for 2013 of 0.9 and higher (United States, Germany, United Kingdom, Canada). * 2 countries with the highest credit rating from Standard -webkit-column-width: 30em; column-width: 30em; list-style-type: decimal;">

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